Premier Oil - Re: PMO Stream Log - The retail bond (PMO1) has...

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Re: PMO Stream Log
11:05 20/08/2015
Aurelius
0 replies 0 0

The retail bond (PMO1) has gone crazy this morning, fell from 84p as low as 73p, before recovering a bit. The annual coupon cost of £150m at 5% is only £7.5m and with Premier's cashflows, I cant see them having to default on it. Even at 78p latest, the YTM (2020) is over 10%. Good opportunity for buy and hold or short-term recovery in my view.

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